Thursday, June 13, 2013

The difference between accountants and auditors and where best to find their services

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Countless professional corporations offer the services of accountants and auditors to clients of distinctive profiles and stands in the society and have been some of the most actively engaged services when compared to any other such professional services. The role that these corporations play in offering professionals who cater to the accounting and audit needs of the corporations of their clients, is one that requires an up to date and thorough knowledge of the regulations that apply to the field, and the proper application and implementation, and interpretation of these rules to ensure that the process of audits and accounting is discharged in a manner that ensures both legitimacy and satisfaction for the clients. However, the terms auditors and accountants have always proven to be quite uncertain owing to their seeming similarities and stark distinctions. On account of the fact that both the services of the accountants and auditors are quite vital to businesses it is imperative that the users and clients to such professionals understand the basic differences between the services that these professionals provide. Professionals who are involved in the process of accounting offer services that are designed to offer their clients a clear and consolidated picture regarding the economic activates that their corporations are involved in, the liabilities and the status of the corporations in terms of its finance. On the other hand, professionals who perform audits, offer their clients services wherein they examine financial statements of their corporations and the records that they maintain with the intent of rendering an opinion regarding the fairness and legitimacy of their statements. The services of the auditors and accountants go hand in hand in the sense that the professionals who perform the audits examine the accounting reports that are presented by the accountants, and verify their conformity using the confirmation documents that are produced by the company, to ensure that it is in keeping with the standards and regulations of the country and region in which their clients are functional in. As is the case in any given country, the business laws in the Emirates are quite tight and have been framed with great care to ensure that both the interests of the businesses and the country is in harmony, while at the same time ensuring growth and prosperity of said entities. In executing their audit processes, the accountants ensure that they follow the supportive legal framework provided by the UAE businesses law which maintains a balance between the businesses and the vision of the country's leadership. Of the many crucial services provided by the many accountants and auditors in UAE, the company formation services that they offer are most crucial. These services offered by the many corporations of accountants and auditors involve the drafting and licensing procedures for their client firms. These professionals ensure that the processes are carried out in a manner that the documents and its contents are in keeping with the rules and regulations of the areas in UAE, in offshore areas, and in free zones. The requirement to find reputable of corporations that offer the services of accountants and auditors is quite crucial and has always been a key factor for the success of many corporations.